Overview:
USD/CHF: The price is probably going to form a strong support at 0.8970 (above 00% of Fibonacci retracement levels in the H1 chart, it is formed the last bearish wave for the last week and the level of 0.8970 acts as strong support, as well as it should be noted that the price is going to form a double bottom at this level). The saturation is likely to take place around 0.8970, because this level also forms the first strong support for October 22, 2013. Therefore, it is possible that the market will start showing bullish signs. In other words, buy deals are recommended above 0.8970 with the first target seen at the 0.9050 level and further at the 0.9095 level. Thus, it also should be noted that the level of 0.9097 is strong resistance (61.8% of Fibonacci retracement levels).
Notes:
Resistance:
0.9097
Support:
0.8970
